Galaxy Gaming, Inc. Annual report pursuant to Section 13 and 15(d)

Year Ended December 31, 2022

Classification

Operating lease cost

Selling, general and administrative expense

LEASES (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental balance sheet information related to leases is as follows:


	As of December 31, 2022
	Amount			Classification
Operating leases:
Operating lease right-of-use lease assets	$	1,002,749

Operating lease current liabilities	$	248,317		Current portion of operating lease liabilities

Operating lease long-term liabilities		830,289		Long-term operating lease liabilities

Total operating lease liabilities	$	1,078,606

Weighted-average remaining lease term:
Operating leases		3.94

Weighted-average discount rate:
Operating leases		4.4	%

The components of lease expense are as follows:

Supplemental cash flow information related to leases is as follows:


	Year Ended December 31, 2022
	Amount		Classification
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	281,303	Net income

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	71,901	Supplemental cash flow information

As of December 31, 2022, future maturities of our operating lease liabilities are as follows:


	Amount
2023	$	290,877
2024		288,892
2025		294,507
2026		302,011
2027		2,985
Total minimum lease payments		1,179,272
Less: imputed interest		(100,666	)
Total operating lease liability		1,078,606
Less: current portion		(248,317	)
Long-term portion	$	830,289